THE IMPACT OF DIGITAL ECONOMY AND FINANCIAL MARKET DEPTH ON CARBON EMISSIONS: AN EMPIRICAL STUDY IN OECD COUNTRIES

Abstract

The aim of the study is to empirically investigate the impact of the digital economy and financial markets on carbon emissions. In this context, the period 2010-2020 was analyzed in the context of OECD countries using a panel data analysis. A panel data model was developed with carbon emissions as the dependent variable and indicators of the digital economy and financial markets as independent variables. The study uses the share of Internet users in the total population, the share of information and communication technology products in total exports and the number of fixed broadband subscriptions per 100 people as indicators of the digital economy. The financial market depth index is used as an indicator for the financial markets. Empirical findings from the model estimation reveal a statistically significant and negative effect of digital economy and financial market indicators on carbon emissions. Thus, the results of the empirical analysis suggest that the increase in digital economy and financial market depth indicators contributes to the reduction of carbon emissions in OECD countries. Based on these findings, it is recommended to develop policies that consider the role of digital applications in reducing carbon emissions.

Keywords

• Digital economy
• Financial depth
• Carbon emissions.

DİJİTAL EKONOMİ VE FİNANSAL PİYASA DERİNLİĞİNİN KARBON EMİSYONUNA ETKİSİ: OECD ÜLKELERİNDE AMPİRİK BİR İNCELEME

Abstract

Bu çalışmanın amacı dijital ekonomi ve finansal piyasaların karbon emisyonu üzerindeki etkisinin ampirik olarak araştırılmasıdır. Bu bağlamda, OECD ülkeleri kapsamında, 2010-2020 dönemi panel veri analizi kullanılarak incelenmiştir. Karbon emisyonlarının bağımlı, dijital ekonomi ve finansal piyasa göstergelerinin bağımsız değişken olduğu bir panel veri modeli geliştirilmiştir. Çalışmada dijital ekonomi göstergesi olarak internet kullanan bireylerin toplam nüfus içerisindeki payı, bilgi ve iletişim teknolojisi ürünlerinin toplam ihracat içerisindeki payı ve 100 kişi başına düşen sabit geniş bant aboneliği değişkenleri kullanılmıştır. Finansal piyasaların göstergesi olarak da finansal piyasa derinlik endeksi kullanılmıştır. Modelin tahmininden elde edilen ampirik bulgular doğrultusunda, dijital ekonomi ve finansal piyasa göstergelerinin karbon emisyonu üzerinde istatistiksel olarak anlamlı ve negatif bir etkisi olduğu tespit edilmiştir. Sonuç olarak ampirik analizden elde edilen bulgular OECD ülkelerinde, dijital ekonomi göstergeleri ve finansal piyasa derinliğindeki artışın karbon emisyonunun azalmasına katkı sağladığına işaret etmektedir. Elde edilen bulgular doğrultusunda, dijital uygulamaların karbon emisyonları açısından da önemi göz önünde bulundurularak politikaların geliştirilmesi önerilmektedir.

Keywords

• Dijital ekonomi
• Finansal derinlik
• Karbon emisyonu.

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